OPEC | Egypt Oil & Gas - Part 21
Traders Eye $100 WTI Ahead of Iran Sanctions
The number of oil traders betting on $100-per-barrel WTI by 2019 has surged in the past week, Reuters reported. Open positions on $100 December 2019 WTI call options have increased 30% in the past seven days to reach ...
OPEC non-OPEC Producers Won’t Increase Oil Output: Sources
A meeting between OPEC and non-OPEC oil producers on September 23 will likely not result in any further increase in crude oil production beyond what was agreed in June, five sources told Reuters. The meeting, being he...
OPEC-led Group Able to Cover Supply Shortage: Russian Energy Minister
Russian energy minister Alexander Novak has expressed confidence that the OPEC-led group of crude exporters are capable of covering potential supply shortages, S&P Global reported. There are concerns that the grou...
OPEC Secretary-General: Oil Consumption to Hit 100M b/d This Year
Global oil demand is expected to reach 100 million barrels per day (b/d) later this year, much earlier than previously expected, OPEC Secretary-General Mohammad Barkindo stated on September 5, Reuters reported. Barkin...
UAE Oil Output to Rise to 3M b/d
The UAE is raising its crude production to almost 3 million barrels per day (b/d) by increasing output from its offshore Umm Lulu oilfield, sources with knowledge of the matter told S&P Global. The UAE’s reported ... OPEC Supply Cuts: Oil Production 9% Lower than Agreed
Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee, Reuters reported. The output figures for July show steadily increasing produ...
OPEC to Agree Oil Supply Monitoring Mechanism: Kuwait Minister
OPEC and non-OPEC petroleum producing countries will agree to introduce a mechanism for monitoring crude oil production before the end of 2018, Kuwaiti Oil Minister Bakheet Al-Rashidi stated, according to the Arab Tim...
Saudi Arabia Cuts Oil Output after OPEC Low Demand Forecast
Saudi Arabia was forced to cut oil production by more than 200,000 barrels per day (b/d) last month after OPEC’s forecasted demand figures were lower than expected, raising concerns about oversupply, The Telegraph rep...
